Stellent, Inc. announced it has acquired selected assets of Active IQ Technologies for $650,000 in cash, or approximately one times the acquired annualized recurring revenue. The transaction will have no revenue effect on Stellent’s March 31, 2003 quarter and is expected to be accretive for Stellent’s fiscal year 2004. There is no ongoing business relationship between the company and Active IQ. Under terms of the agreement, Stellent has acquired technology, customer agreements and other assets related to the hosted application business that Active IQ built based upon the Stellent Content Management system. The company has assumed Active IQ’s current subscription revenue agreements with customers and will continue to market the hosted applications for vertical markets. Stellent will also offer general hosting capabilities to other content management prospects and customers. Stellent has hired Active IQ sales, marketing and development staff, and Active IQ president and chief executive officer Jack Johnson is now Stellent’s vice president of hosted solutions.